Stolen money used to gamble

Written By Unknown on Senin, 17 Desember 2012 | 19.55

A 25-year-old bank employee's gambling addiction led him to embezzle $27,000 from the accounts of friends and family and from the staff footy tipping competition, a court has heard.

Joshua James Bailey pleaded guilty in the Supreme Court in Hobart to three charges of using a computer with intent to defraud, three charges of dishonestly acquiring a financial advantage, and one charge of stealing.

Justice Peter Evans said Bailey worked at MyState Financial from 2007 and had access to the bank's core banking system and access to customer accounts.

In 184 transactions between April 2009 and July 2011 he transferred $24,088 from the accounts of family members and friends into his own accounts.

Between June 2009 and September 2009, Bailey made 17 unauthorised transactions from the MyState employees' football tipping competition.

He repaid the missing funds with money fraudulently transferred from other customers, the judge said.

In September 2010 Bailey found a MyState Visa debit card and tried to use the card to withdraw funds and attempted to use it to purchase goods from a shop.

Justice Evans said the criminal conduct involved some 230 transactions totalling $27,000 over 16 months, which he said Bailey blamed on a gambling problem he had since overcome.

"By some standards, the loss caused by the defendant's criminal conduct is not substantial," the judge said.

"However, his conduct amounts to a clear breach of trust by an employee in a financial institution and involved many transactions over an extended period.

"In these circumstances, I conclude that the only appropriate penalty is one of immediately effective imprisonment."

He jailed Bailey for six months.


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